Dr. Adebayo Orire, a medical doctor and member of the All Progressives Congress (APC) in Ekiti State, shared his views on the economy.
In a recent report by The Sun, Orire stated that many people benefit from the fluctuating value of the naira. He said for instance, if someone is a trader, they would prefer the value of the naira to be weak because they can buy goods cheaply and sell them at higher prices. He said similarly, people working in currency exchange (bureau de change) buy foreign currency at low rates and sell it at higher rates to make a profit.
Dr. Orire argued that this type of trading is damaging various sectors in Nigeria, such as industries, agriculture, and education.
In Orire’s words: “If I were to be an Igbo boy selling market, I will want the value of the naira to be bad because I will buy low and sell high. If I were a boy in bureau de change, I will buy low and sell high. They are trading in money and that is exactly what other people are doing and that is what is killing our industries, our production lines, our agriculture, our education, everything”…..Sée Móre
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